Zillow Advice: Buying Process - Is there a limit on how far i can buy my home from where i work? http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ Zillow Advice | Zillow Real Estate I&nbsp;appreciate all the ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ <p>I&nbsp;appreciate all the advice,it looks like i will have to take a trip to santa maria to see if it really is worth the effort.<br/>&nbsp;To everyone who responded,Thank You..</p> Mon, 03 Dec 2012 20:05:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-12-03T20:05:00Z Hi Cindy, you are totally ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ Hi Cindy, you are totally correct, I read John's message wrong, he is able to rent and pay mortgage at the same time.&nbsp; Now all he needs is a lender who verifies that and offers him a loan. Fri, 30 Nov 2012 04:09:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-30T04:09:00Z I read that completely differently ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ I read that completely differently than Ofe. I understand you to be saying that you CAN afford to rent a home where you work and make a mortgage payment in addition. And I see no mention that you may rent out the new home?<br/><br/>it will be easier to qualify if you can prove that you often tele-commute or work from home, or have some sort of schedule that won't require a daily commute. You may also qualify for some very attractive financing for a second home anyway. Regardless, you can't change where you work or wish to buy, so just be upfront and see if it is possible or not. You may have to seek out more than one lender to get approved, since they all have different ideas about what a "reasonable commute" is to them. It may also make a difference if your spouse/partner will be living full time in the new home. &nbsp;Good luck! Fri, 30 Nov 2012 02:27:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-30T02:27:00Z A loan for a primary residence ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ A loan for a primary residence can be turned down for distance.&nbsp;&nbsp; There is not an exact number because each situation is different.&nbsp;&nbsp; An airline pilot may be based out of Chicago but live in Denver, and that can be fine.&nbsp;&nbsp;&nbsp; <br/><br/>If your thinking about renting by your job and visiting occasionally, it isn't your primary residence. <br/><br/> Fri, 30 Nov 2012 01:51:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-30T01:51:00Z Hi John&nbsp; I suggest that ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ Hi John&nbsp; I suggest that you level with the lender and tell them the truth, that you want to buy an investment home.&nbsp; You are not going to be living in it, most likely will rent it, as you already said, you cannot pay both mortgage and rent.&nbsp; See what they have to say.&nbsp; The best of luck!&nbsp; Fri, 30 Nov 2012 01:46:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-30T01:46:00Z Banks look for stability ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ Banks look for stability when they underwrite loans. If what you want is owner occupied mortgage rates on a house that you do not plan to occupy immediately, then you are taking a chance. Most lenders verify your residence after the loan is closed. <br/><br/>If you fail to occupy as agreed, you could be stepping into a situation that may be viewed by the bank as <a href="http://www.investopedia.com/articles/mortgages-real-estate/10/how-mortgage-fraud-affects-markets.asp" rel="nofollow">mortgage fraud</a>. Before you do that, I would be straight with your lender and see what they say. Thu, 29 Nov 2012 22:18:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-29T22:18:00Z Can a loan be turned down ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ Can a loan be turned down because of distance?<br/>&nbsp;i dont plan on moving&nbsp; right away, i can afford to have the home there and still rent here. prices&nbsp;in santa maria&nbsp;are good and i have family there to watch over the home. Thu, 29 Nov 2012 22:13:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-29T22:13:00Z We sold a home in Santa Maria ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ We sold a home in Santa Maria (great place) to a couple that used to live in West Covina...how did they get around from here to there with my partner?&nbsp; They used to take the train and had a car parked up there to go see property with--and then they would all&nbsp;come back home together.<br/><br/>It is a long journey.&nbsp; I do not recommend it on a daily basis--it would be very taxing on you!<br/><br/>Best wishes from So-Cal and good luck Thu, 29 Nov 2012 20:05:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-29T20:05:00Z That is a personal decision, ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ That is a personal decision, you probably will not have a life, if you do that, but then.....there must a reason, for you to even ask the question.&nbsp; Good luck! Thu, 29 Nov 2012 19:33:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-29T19:33:00Z There is no limit in the ... http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ There is no limit in the sense that you are the one with the commute. &nbsp;The real issue would be that is a 6 hour commute and between wear and tear on the car, gas money and the value of your time, would it be worth it? Thu, 29 Nov 2012 19:13:00 GMT http://www.zillow.com/advice-thread/Is-there-a-limit-on-how-far-i-can-buy-my-home-from-where-i-work/469866/ 2012-11-29T19:13:00Z